Analysis of Bitcoin Strategy on October 6th

True trading wisdom is not reflected in the precise prediction of every fluctuation, but in the ability to adhere to rules and discipline even when market trends exceed expectations. Cultivating the execution of stop-loss as an instinct allows the stability of one’s mindset to prevail over the ups and downs of charts. This current phase of repeated fluctuations may seem chaotic, but it is actually a "trap" set by the main players — Bitcoin oscillates around a core position, sometimes creating the illusion of an upward trend to attract long positions, and sometimes suddenly plummeting to induce short positions, essentially targeting the stop-loss levels set by retail investors for "sniping". Once most investors become disoriented through repeated washes and their position sizes become unbalanced, the main players will initiate directional fluctuations to complete the final harvest.

From the daily chart structure, the price has entered a strong bullish trend characterized by consecutive bullish candles. Although there is technical resistance above in the short term, the continuous new highs in the coin price clearly indicate the strength and persistence of the bulls. Currently, the market is entirely dominated by buyers, with the middle band of the Bollinger Bands providing effective support, significantly limiting the extent of any downward corrections. The overall market is progressing orderly within an upward channel, and the current pattern remains bullish.

It is recommended to buy when Bitcoin falls to around 123350-123850, with a target of 124600-125000. If it breaks through, continue to look up, with a stop loss of 500 points!
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